Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Costa Mesa Multifamily Redevelopment Opportunity Title is generated by Realmo AI

    998 Mission, Costa Mesa, CA 92626

    View on Map
    Claim this Listing
    For Sale
    $2,100,000

    Traditional, Quadruplex - Costa Mesa, CA

    Type:Quadruplex
    Property size:
    4,087 SF
    Lot size:
    6,970.00 Acres
    Price / SF:
    $513/SF
    Added:
    Apr 12, 2026
    Days on Market:
    35
    Last Refresh:
    May 16 at 4:06 pm

    Property Features for 998 Mission

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Bedrooms
    7
    Bathrooms
    7
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry
    Parking
    11
    Parking features
    Driveway, Garage, Paved or Surfaced
    Interior features
    Carbon Monoxide Detector(s)
    Exterior features
    Fence, Community Features Included: Curbs, Sidewalks, Suburban, Rectangular Lot, Level
    Fencing
    Fenced
    Standard status
    Active
    APN
    14166211
    Size
    4,087 SF
    Lot size
    6,970.00 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1964
    Floors in Building
    2
    Number of units
    4
    Building materials
    Stucco
    Roof type
    Composition
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    John Kelly

    Listing agent John Kelly License #01232969

    Listing office Seven Gables Real Estate 19671 Beach Blvd Ste 100, Tustin, CA

    Listing date Apr 12, 2026

    MLS# OC26069459 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime multi‑family opportunity in desirable Mesa Verde location.
    • R3 zoning allows for multiple units, value‑add or redevelopment potential.
    • Strong rental demand and walkable area.
    • Large 6,970 sq ft lot with 4,065 sq ft building area.
    • Convenient access to Mesa Verde Country Club, Fairview Park, and the 405 freeway.
    • Solid construction (built in 1964) with stucco exterior and fenced yard.

    Overview

    This multifamily property, built in 1964, is located in Costa Mesa, CA. Situated on a 6,970 square foot lot, the property features approximately 4,065 square feet of building area. Zoned R3, the property offers potential for multiple units. Located on a quiet street in a desirable neighborhood, it is near Mesa Verde Country Club and Fairview Park, with easy access to the 405 freeway. The property presents a value-add or redevelopment opportunity, with potential to update existing units or explore new construction. The property is located in a walkable area with strong rental demand.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Costa Mesa
    County
    Orange
    State
    California
    Longitude
    -117.8988052
    Latitude
    33.6775162

    Nearby Similar for Sale

    • $2,300,000
      3,551 SF

      Costa Mesa Quadruplex Investment

      Four units in a desirable Costa Mesa location.
      2940 Peppertree, Costa Mesa, CA 92626
      View Details
    • $119,000

      Ding Tea Business Opportunity

      Turnkey boba shop in high-traffic Costa Mesa plaza.
      2706 Harbor Boulevard, Costa Mesa, CA 92626
      View Details
    • $3,600,000
      3,945 SF

      Multifamily Property in Costa Mesa

      Income-producing multifamily property in a desirable Costa Mesa location.
      2525 Elden, Costa Mesa, CA 92627
      View Details
    • $1,349,000
      1,680 SF

      Costa Mesa Duplex Opportunity

      Desirable Westside location, spacious units, strong rental potential.
      2171 Pomona, Costa Mesa, CA 92627
      View Details
    • $4,100,000
      3,039 SF

      Eastside Costa Mesa Investment Opportunity

      High-yield investment property with potential for institutional or recreational use.
      308 E 18th St, Costa Mesa, CA 92627
      View Details
    • $1,999,000
      1,922 SF

      Costa Mesa Single Family Residence

      East Costa Mesa home with mother-in-law quarters and large lot.
      2480 Elden, Costa Mesa, CA 92627
      View Details
    • $2,799,000
      5,625 SF

      Costa Mesa Retail Property For Sale

      Retail property in a desirable, supply-constrained Eastside Costa Mesa location.
      2428 Newport Blvd, Costa Mesa, CA 92627
      View Details
    • $2,895,000
      5,625 SF

      Eastside Costa Mesa Retail Opportunity

      Multi-tenant retail property with value-add potential in Costa Mesa.
      2428 Newport Blvd, Costa Mesa, CA 92627
      View Details
    • $100,000

      Costa Mesa Business Investment Opportunity

      Ownership stake in established escrow company near Newport Freeway.
      3176 Pullman Avenue, Costa Mesa, CA 92626
      View Details
    • $3,600,000

      Multifamily Property in Costa Mesa

      Versatile multifamily property in a desirable Costa Mesa location.
      2525 Elden, Costa Mesa, CA 92627
      View Details
    • $3,499,000
      3,050 SF

      Costa Mesa Retail Building For Sale

      West side Costa Mesa building with prominent signage and parking.
      1775 Newport Blvd, Costa Mesa, CA 92627
      View Details
    • $2,100,000
      4,065 SF

      Mesa Verde Multifamily Opportunity

      Multi-unit property in desirable Costa Mesa neighborhood near Mesa Verde.
      998 Msn, Costa Mesa, CA 92626
      View Details

    FAQs

    What type of property is this?
    Quadplex - Multifamily property in desirable Costa Mesa neighborhood, value-add or redevelopment.
    Where is this quadplex located?
    The property is located at 998 Mission Costa Mesa, CA.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Prime multi‑family opportunity in desirable Mesa Verde location.; R3 zoning allows for multiple units, value‑add or redevelopment potential.; Strong rental demand and walkable area.
    (949) 233-5574
    We can help!
    Listing Contact
    John Kelly
    Real Estate License ID: 01232969
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    998 Mission, Costa Mesa, CA 92626
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!